VICTORIA, Seychelles — The Central Bank of Seychelles (CBS) yesterday announced a revised timeline for phasing out the issuance and acceptance of local currency cheques for non-individuals (businesses) by all banks, the Seychelles Credit Union (SCU), the Seychelles bankers Association (SBA) and the Ministry of Finance, National Planning and Trade (MoFNPT) on the concerns from businesses, in particular retailers and wholesalers, regarding the original timeline and the implementation challenges encountered on the ground.
This decision follows the Cabinet of Ministers’ approval on July 16, 2025, of the revised timeline for phase two of the sunsetting of cheques relating to non-individuals (businesses), per the accompanying table. To support the revised transition timeline, a dedicated team comprising representatives from CBS, the Governor CBS, the secretary general of SCCI, the Seychelles bankers Association and the government has been established.
The press conference, held at L’Escale Resort Marina and Spa, was chaired by Audrey Pothin, chairperson of the Seychelles Bankers Association; Karine Bonne, accountant general at the Ministry of Finance, National Planning and Trade; and Mike Tirant, second deputy governor of the CBS. The CBS said the revised timeline will give businesses more time to adapt their payment systems and to ensure a smooth transition to alternative payment methods.
